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Loans and Mortgages

Mortgage refers to a loan used to purchase or maintain a home, land, or other types of real estate. The borrower agrees to pay the lender over time, typically in a series of regular payments that are divided into principal and interest. The property serves as collateral to secure the loan. A borrower must apply for a mortgage through their preferred lender and ensure they meet several requirements, including minimum credit scores and down payments.

One of the most fundamental aspects of buying a home is figuring out how you are going to afford it. Most home buyers take out long-term loans called mortgages that give lenders a claim on the home should you forfeit. Factors that go into financing a home purchase might include determining the best type of mortgage for your means; understanding the mortgage rates that may be available in your area; and figuring out whether you qualify for a mortgage to begin with. For first time home buyers, seeking and qualifying for mortgages

can be a bewildering process, although home ownership typically improves your credit rating. This section includes articles to help you understand these and other basic information about mortgages and loans so you can feel confident when you walk into a lender's office.

The price of a home is often far greater than the amount of money most households save. As a result, mortgages allow individuals and families to purchase a home by putting down only a relatively small down payment, such as 20% of the purchase price, and obtaining a loan for the balance. The loan is then secured by the value of the property in case the borrower defaults.

Mortgages

Today's mortgage market is faced with volatility, sharp volume swings, increased regulatory scrutiny, and constant change. Business Process Transformation partnerships have been increasingly popular to help mortgage lenders better accomplish industry objectives including mortgage origination and underwriting. Like other customer-focused industries, mortgage companies are evaluating strategic sourcing alternatives to better control costs, reduce capital expenditures and improve service levels.

An industry-leading mortgage originator engaged Sutherland to help increase their overall fulfillment efficiencies. Upon assessing the company's loan processing functions, we identified operational areas that could be outsourced and developed a strategic solution to increase productivity and reduce costs, including complete end-to-end fulfillment, credit analyses, and third party ordering, as well as support for several back office functions.